Adicet Bio, Inc. (NASDAQ:ACET) Receives $48.80 Consensus Target Price from Brokerages

Shares of Adicet Bio, Inc. (NASDAQ:ACET) have received a consensus recommendation of “Moderate Buy” from the eight research firms that are presently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, one has given a hold rating, five have given a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among brokerages that have covered the stock in the last year is $48.80.

ACET has been the subject of several research reports. Wall Street Zen raised Adicet Bio from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. Guggenheim decreased their price target on shares of Adicet Bio from $128.00 to $100.00 and set a “buy” rating on the stock in a research note on Friday, March 13th. HC Wainwright lowered their price objective on shares of Adicet Bio from $50.00 to $27.00 and set a “buy” rating for the company in a report on Monday, March 23rd. Weiss Ratings raised shares of Adicet Bio from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, May 26th. Finally, Truist Financial raised shares of Adicet Bio to a “strong-buy” rating in a report on Wednesday, March 25th.

Institutional Investors Weigh In On Adicet Bio

A number of hedge funds and other institutional investors have recently modified their holdings of ACET. Goldman Sachs Group Inc. grew its position in Adicet Bio by 1.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,816,556 shares of the company’s stock worth $2,882,000 after acquiring an additional 63,691 shares during the last quarter. Two Sigma Investments LP boosted its stake in shares of Adicet Bio by 66.6% during the third quarter. Two Sigma Investments LP now owns 854,568 shares of the company’s stock valued at $692,000 after purchasing an additional 341,761 shares during the period. Franklin Resources Inc. bought a new position in shares of Adicet Bio in the fourth quarter worth approximately $5,276,000. Citadel Advisors LLC grew its holdings in shares of Adicet Bio by 19.8% in the third quarter. Citadel Advisors LLC now owns 583,948 shares of the company’s stock worth $473,000 after purchasing an additional 96,342 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. purchased a new position in shares of Adicet Bio in the fourth quarter worth $2,310,000. Institutional investors own 83.89% of the company’s stock.

Adicet Bio Stock Down 3.4%

ACET opened at $8.94 on Friday. The stock has a market cap of $83.59 million, a PE ratio of -0.60 and a beta of 1.58. The company has a quick ratio of 7.65, a current ratio of 7.66 and a debt-to-equity ratio of 0.01. Adicet Bio has a 52 week low of $6.01 and a 52 week high of $17.44. The business’s fifty day simple moving average is $8.19 and its 200 day simple moving average is $7.76.

Adicet Bio (NASDAQ:ACET) last issued its quarterly earnings results on Wednesday, May 13th. The company reported ($1.88) earnings per share (EPS) for the quarter, topping the consensus estimate of ($2.93) by $1.05. As a group, research analysts expect that Adicet Bio will post -8.61 earnings per share for the current fiscal year.

Adicet Bio Company Profile

Adicet Bio, Inc (NASDAQ: ACET) is a clinical‐stage biotechnology company specializing in the development of off‐the‐shelf, allogeneic gamma delta (γδ) T cell therapies for oncology and autoimmune disorders. The company’s proprietary platform enables the genetic engineering of γδ T cells with chimeric antigen receptors (CARs) and other molecular modifications to enhance tumor targeting, expansion, and persistence. By leveraging the innate tumor-recognition properties of γδ T cells, Adicet seeks to overcome the manufacturing and safety challenges associated with autologous cell therapies.

Adicet’s lead product candidate, ADI-001, is a CAR‐engineered allogeneic γδ T cell therapy directed against CD20 for the treatment of relapsed or refractory B-cell malignancies.